Form 990 for tax year 2023

Filed by TWELVE STONES CHRISTIAN ACADEMY.

Totals

Total revenue: $591,081
Total expenses: $837,586
Contributions and grants received: $218,620
Grants paid: $95,640
Program service revenue: $372,461
Investment income: $0
Other revenue: $0
Total assets, end of year: $7,401,087
Total liabilities, end of year: $8,727,389
Net assets or fund balances, end of year: -$1,326,302
Program services expenses (Part IX): $837,586
Management and general expenses: $0
Fundraising expenses: $0
Program service expenses (Part III): $837,586

Program services were 100.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

1f · All other contributions, gifts and grants

$218,620
2a · Program service revenue: Tuition

total $343,725 · related or exempt $343,725
2b · Program service revenue: Other School Income

total $28,736 · related or exempt $28,736

Functional expenses

Part IX, the statement of functional expenses.

2 · Grants to domestic individuals

total $95,640 · program services $95,640
7 · Other salaries and wages

total $495,987 · program services $495,987
9 · Other employee benefits

total $44,059 · program services $44,059
10 · Payroll taxes

total $36,235 · program services $36,235
11c · Fees: accounting

total $13,517 · program services $13,517
13 · Office expenses

total $98,997 · program services $98,997
16 · Occupancy

total $18,172 · program services $18,172
17 · Travel

total $6,152 · program services $6,152
19 · Conferences, conventions and meetings

total $225 · program services $225
22 · Depreciation, depletion and amortization

total $16,511 · program services $16,511
23 · Insurance

total $1,554 · program services $1,554
24a · Other expenses: Dues and subscriptions

total $4,106 · program services $4,106
24b · Other expenses: Telephone

total $2,585 · program services $2,585
24c · Other expenses: Equipment Rental

total $1,113 · program services $1,113
24d · Other expenses: Employee Recognition

total $1,069 · program services $1,069
24e · All other expenses

total $1,664 · program services $1,664

Balance sheet

Part X, book values.

1 · Cash, non-interest-bearing

beginning of year $101 · end of year $100
3 · Pledges and grants receivable

end of year $171,547
10a · Land, buildings and equipment: cost or other basis

$1,877,119
10b · Land, buildings and equipment: accumulated depreciation

$55,301
10c · Land, buildings and equipment, net

beginning of year $1,827,713 · end of year $1,821,818
15 · Other assets

beginning of year $16,814 · end of year $5,407,622
17 · Accounts payable and accrued expenses

beginning of year $2,904,458 · end of year $58,868
19 · Deferred revenue

end of year $235,776
25 · Other liabilities

beginning of year $19,967 · end of year $8,432,745
27 · Net assets without donor restrictions

beginning of year -$1,079,797 · end of year -$1,326,302

Mission and programs · 2023

Mission

With academic excellence, the Academy partners with Christian parents in their roles of educating and discipling their children. We stand on the authority of God's Word in all areas, and train students to think biblically and critically in all subjects.

Activities or mission (Part I)

Twelve Stones Christian Academy partners with christian parents in their roles of educating their children. The Academy strives for excellence in all educational pursuits.

Education of elementary and junior high students.

Expenses $837,586 · Grants $95,640 · Revenue $372,461

As filed on the 2023 return.

Listed in Part VII

Kenneth Ham

Treasurer

Total calculated

$269,192

From this org

$0

From related orgs

$256,112

Other

$13,080

Hours/week

5 + 35 related

Schedule J breakdown matched by us

Base

$0 + $256,112 related

Bonus

$0

Other

$0

Deferred

$0 + $11,865 related

Nontaxable benefits

$0 + $1,215 related

Filer's total

$0 + $269,192 related
John Pence

Secretary

Total calculated

$142,057

From this org

$0

From related orgs

$119,653

Other

$22,404

Hours/week

5 + 55 related
Dr Georgia Purdom

Board Member

Total calculated

$127,487

From this org

$0

From related orgs

$101,710

Other

$25,777

Hours/week

5 + 35 related
Dr Jennifer Rivera

Board Member

Total calculated

$0

Hours/week

5
Renee Hodge

Treasurer

Total calculated

$73,555

From this org

$0

From related orgs

$72,945

Other

$610

Hours/week

40
John Pinkston

President

Total calculated

$0

Hours/week

5
Eric Thomason

Board Member

Total calculated

$0

Hours/week

5

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

4a · Severance or change-of-control payment
4b · Supplemental nonqualified retirement plan
4c · Equity-based compensation arrangement
5a · Pay contingent on this organization's revenues
5b · Pay contingent on a related organization's revenues
6a · Pay contingent on this organization's net earnings
6b · Pay contingent on a related organization's net earnings
7 · Other non-fixed payments
8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Part I, Line 3: The organization relied on a related organization that used one or more of the methods in Question #3 to establish compensation.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Answers in Genesis Inc

501(c)(3) · Religious education · KY
Crosswater Canyon Inc

501(c)(3) · Religious education · KY

Directly controlled by Answers in Genesis
Answers in Genesis Canada

501(c)(3) · Religious education · CA
Answers in Genesis Australia

501(c)(3) · Religious education · AS

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

Ark Encounter LLC

Own, lease, develop property · MO · income $42,625,489 · assets $91,193,331

Directly controlled by Crosswater Canyon Inc
Ark Development LLC

Own, lease, develop property · KY · income $0 · assets $3,688,567

Directly controlled by Answers in Genesis
Takenbac Enterprises

Own, lease, develop property · KY · income $0 · assets $0

Directly controlled by Answers in Genesis
Parking Lot Ventures

Own, lease, develop property · KY · income $0 · assets $106,900

Directly controlled by Answers Collective Inc

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

Answers Collective Inc

C · UBIT Depository - AiG · KY

Provenance

Return type: form_990
Tax year: 2023
Filed: 5 November 2024
IRS schema version: 2023v5.1
Source object: 202443119349303229

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